Enlarge
Diamond giant De Beers undergoes another management change as CFO Stuart Brown steps down

The De Beers Group has announced that Stuart Brown, Chief Financial Officer (CFO) and acting joint Chief Executive Officer (CEO), has decided to step down after nearly 20 years with the company.

 

Brown will stay on until 31 July, during which time he will help Philippe Mellier settle into his new role as CEO.

 

Nicky Oppenheimer, Chairman of De Beers, said "Over the past several years Stuart has played a central role in reshaping De Beers and positioning it for the future. During the past three years in particular, Stuart has led a comprehensive restructure and a successful refinancing of the Group all while seeing the company through the most challenging financial crisis since WWII and helping it to post the best financial results we’ve seen in more than a decade. We will miss Stuart’s leadership and wish him every success in the future."

 

Brown commented, "I leave De Beers with fond memories and confidence that we have put the company on a trajectory for strong and sustained growth…  I wish Nicky, Philippe and all of my colleagues nothing but success in the years to come."